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Prepress Content: The following article is a preprint of a scientific paper that has completed the peer-review process and been accepted for publication within Economics of Energy & Environmental Policy.
While the International Association for Energy Economics (IAEE) makes every effort to ensure the veracity of the material and the accuracy of the data therein, IAEE is not responsible for the citing of this content until the article is actually printed in a final version of Economics of Energy & Environmental Policy. For example, preprinted articles are often moved from issue to issue affecting page numbers, and actual volume and issue numbers. Care should be given when citing Economics of Energy & Environmental Policy preprint articles.

Economics of Energy & Environmental Policy
Volume 8, Number 2



The gravity of status quo: A review of IEA’s World Energy Outlook

Klaus Mohn

DOI: 10.5547/2160-5890.8.2.kmoh
View Abstract

Abstract:
This paper reviews the methodology and methods behind IEA's World Energy Outlook (WEO) and offers a critical assessment of key assumptions and projections, focusing in particular on energy and the macro economy, technological change, and investment in new renewable energy. I argue that IEA's World Energy Outlook suffers from a status quo bias in favor of fossil fuels. This bias could be accidental, arising from professional conservatism, long-term vintage capital formation, and/or high adjustment costs. However, such a bias may also be also consistent with IEA's stakeholder interests of member nations, oil-prone governance systems, and close connections to the oil and fossil fuel industry.